IB Failed Conditional Orders

Discussion in 'Order Execution' started by xtrhvydty, Dec 24, 2006.

Have all your IB conditional orders worked as specified?

  1. Yes

    1 vote(s)
    16.7%
  2. No, and IB assumed the cost of the malfunction

    0 vote(s)
    0.0%
  3. No, and IB did not cover the cost

    5 vote(s)
    83.3%
  1. elaborate
     
  2. IB allows you to enter many elaborate, conditional orders.
    This in no way mitigates the Trader's Responsibility...
    To ** monitor ** ALL orders in real-time.

    I made about 60,000 trades through IB in 2006...
    And it's just a fact of life...
    Due to the complexity of today's trading environment...
    That for every 100 orders...
    You will have 1 or 2 sub-optimal events or even outright failures.
    This is just one more cost of doing business.

    (I don't even remember the 500 problem orders...
    Except the one where IB screwed me on buy-in...
    By refusing to inform the Customer...
    And then actually placing a market order on an ECN ** after hours **.
    Truly a historic landmark in "artificial stupidity").

    If you argue with your broker...
    About every sub-optimal event...
    You will never get anywhere.

    The key is to develop and ** evolve ** trading methodologies...
    That have a "manageable" problem level...
    And then just absorb sub-optimal trades.

    If an IB feature is not working for you...
    Then stop using it... there are 1000 alternatives.

    And as for the typical post...
    "I entered a combo order and went on vacation"...
    Man, you need to get off drugs.